Fairport Savings Bank Mortgage Rates, Fees & Info

Fairport, NY

LEI: 549300KBBVNTCW1SWC68

Tax ID: 16-0427685

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Fairport Savings Bank is a smaller bank specializing in Home Purchase loans. Fairport Savings Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Rochester, Buffalo, Ogdensburg, Watertown, and Olean among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fairport Savings Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fairport Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    532

    Origination Dollar Volume (All Markets)

    $93,250,000

    Employee count

    75 Show all (10) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ROCHESTER, NY (FHA|USDA|VA) 312 $47,860,000 $153,397 $3,532 4.72%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 164 $36,630,000 $223,354 $4,361 4.60%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 27 $3,895,000 $144,259 $5,035 4.78%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 9 $1,685,000 $187,222 $4,953 4.58%
    Olean, NY (FHA|USDA|VA) 4 $590,000 $147,500 $2,961 4.00%
    Seneca Falls, NY (FHA|USDA|VA) 3 $575,000 $191,667 $3,733 4.54%
    Batavia, NY (FHA|USDA|VA) 3 $475,000 $158,333 $3,096 4.50%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 2 $410,000 $205,000 $5,068 4.56%
    Corning, NY (FHA|USDA|VA) 4 $400,000 $100,000 $3,258 4.54%
    SYRACUSE, NY (FHA|USDA|VA) 1 $335,000 $335,000 $3,491 4.63%
    Outside of Metro Areas 2 $260,000 $130,000 $2,707 4.44%
    UTICA-ROME, NY (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.25%
    Fairport Savings Bank's top markets include Rochester, Buffalo, Ogdensburg, Watertown, and Olean among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Fairport Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GREATER WOODLAWN FEDERAL CREDIT UNION
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    FAMILY FIRST OF NY
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    SEFCU SERVICES, LLC
    Similarity Rank: 312
    Five Star Bank
    Similarity Rank: 481

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 401 $76,015,000 $189,564 $3,521 4.66%
    FHA 100 $12,030,000 $120,300 $4,833 4.68%
    VA 31 $5,205,000 $167,903 $5,287 4.82%

    For 2018, Fairport Savings Bank's most frequently originated type of loan was Conventional, with 401 originations. Their 2nd most popular type was FHA, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 455 $81,125,000 $178,297 $3,952 4.65%
    Cash Out Refi 29 $5,925,000 $204,310 $3,658 4.78%
    Refi 25 $4,495,000 $179,800 $3,422 4.51%
    Other 13 $1,025,000 $78,846 $3,079 4.99%
    Home Improvement 10 $680,000 $68,000 $0 5.28%

    For 2018, Fairport Savings Bank's most frequently cited loan purpose was Home Purchase, with 455 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 417 $70,535,000 $169,149 $3,640 4.68%
    15 Year 37 $5,945,000 $160,676 $3,517 4.34%
    30+ year 29 $10,825,000 $373,276 $8,073 4.53%
    10 Year 22 $2,040,000 $92,727 $2,782 5.27%
    20 Year 18 $2,410,000 $133,889 $2,823 4.83%
    Other 8 $1,470,000 $183,750 $5,957 4.48%
    5 Year 1 $25,000 $25,000 $0 5.50%

    For 2018, Fairport Savings Bank's most frequently cited loan duration was 30 Year, with 417 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 287 $51,845,000 $180,645
    $1k-2k 113 $16,505,000 $146,062
    $2k-3k 23 $5,175,000 $225,000
    $3k-4k 13 $4,035,000 $310,385
    $4k-5k 9 $3,055,000 $339,444
    $5k+ 8 $3,780,000 $472,500

    Fairport Savings Bank's average total fees were $3,640, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 287 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 385 $72,135,000 $187,364
    5-6% 89 $11,675,000 $131,180
    3-4% 47 $9,145,000 $194,574
    6-7% 2 $250,000 $125,000

    During 2018, Fairport Savings Bank's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 385 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 264 $37,570,000 $142,311 $3,535 4.63%
    $100,000 or less 122 $8,280,000 $67,869 $3,160 4.81%
    $200k-400k 120 $32,850,000 $273,750 $4,690 4.66%
    $400k-600k 19 $8,765,000 $461,316 $6,503 4.60%
    $600k-1MM 6 $4,550,000 $758,333 $6,556 4.31%
    $1MM+ 1 $1,235,000 $1,235,000 $5,212 4.00%

    2018 saw Fairport Savings Bank place emphasis on $100k-200k loans with 264 originations, totaling $37,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 130 $16,360,000 $125,846 $3,714 4.68%
    $50k or less 115 $11,695,000 $101,696 $3,576 4.63%
    $100k-150k 107 $22,465,000 $209,953 $3,872 4.72%
    $75k-100k 95 $15,885,000 $167,211 $3,906 4.68%
    $150k-250k 53 $14,235,000 $268,585 $5,171 4.61%
    $250k+ 25 $10,855,000 $434,200 $4,372 4.49%

    Fairport Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 130 originations. The second most popular income band? $50k or less, with 115 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 102 $17,240,000 $169,020 $3,452 4.65%
    20-30% 90 $16,180,000 $179,778 $3,795 4.62%
    50-60% 42 $6,410,000 $152,619 $4,975 4.72%
    39% 26 $5,470,000 $210,385 $4,146 4.71%
    <20% 25 $4,115,000 $164,600 $3,039 4.43%
    49% 24 $3,130,000 $130,417 $4,334 4.89%
    38% 21 $4,365,000 $207,857 $4,177 4.63%
    45% 21 $4,055,000 $193,095 $3,931 4.63%
    47% 20 $2,780,000 $139,000 $3,542 4.61%
    41% 19 $3,095,000 $162,895 $3,783 4.64%
    36% 19 $3,555,000 $187,105 $4,436 4.74%
    42% 18 $2,930,000 $162,778 $4,198 4.54%
    37% 18 $4,460,000 $247,778 $4,410 4.53%
    46% 18 $3,900,000 $216,667 $4,151 4.71%
    44% 17 $2,315,000 $136,176 $3,657 4.98%
    48% 15 $2,125,000 $141,667 $3,359 4.74%
    43% 14 $2,680,000 $191,429 $4,600 4.55%
    40% 14 $2,590,000 $185,000 $3,497 4.65%
    >60% 1 $55,000 $55,000 $0 5.50%

    Fairport Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 102 originations. The next most common DTI ratio? 20-30%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 496 $87,130,000 $175,665 $3,928 4.66%
    Not applicable 6 $1,640,000 $273,333 $0 5.82%
    Black 10 $1,640,000 $164,000 $4,591 4.69%
    Not provided 10 $1,300,000 $130,000 $2,745 4.86%
    Asian 7 $1,255,000 $179,286 $2,814 4.52%
    Native Hawaiian or Islander 1 $125,000 $125,000 $3,814 4.00%
    American Indian 1 $95,000 $95,000 $4,170 5.13%
    Vietnamese 1 $65,000 $65,000 $2,550 4.25%

    Approval Rates

    Total approvals of all applications
    93.80%

    Fairport Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.91%

    Fairport Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 532 $93,250,000 $175,282

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,135,000 $378,333
    Single Family (1-4 Units):Site-Built 529 $92,115,000 $174,130

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $900,000 $75,000 $2,769 4.92%
    40-60% 34 $4,760,000 $140,000 $3,251 4.63%
    60-80% 148 $27,770,000 $187,635 $3,496 4.66%
    80-100% 312 $57,550,000 $184,455 $3,975 4.65%
    Over 100% 10 $2,020,000 $202,000 $9,032 4.86%
    Under 20% 16 $250,000 $15,625 $2,465 5.43%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fairport Savings Bank 1075 Ridge Road , East Suite 100 Webster, NY 14580 Full Service B&M $27,346
    Fairport Savings Bank 2118 Hudson Avenue Rochester, NY 14617 Full Service B&M $31,410
    Fairport Savings Bank 2163 Nine Mile Point Road Fairport, NY 14450 Full Service B&M $40,596
    Fairport Savings Bank 45 South Main St Fairport, NY 14450 Full Service B&M $83,859
    Fairport Savings Bank 6797 Pittsford Palmyra Road Fairport, NY 14450 Full Service B&M $38,758

    For 2018, Fairport Savings Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,932
    Net interest income $8,953
    Total noninterest income $2,305
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $142
    Trading account gains and fees $0
    Additional Noninterest Income $2,163
    Pre-tax net operating income $631
    Securities gains (or losses, -) $0
    Income before extraordinary items $599
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $599
    Minority interest net income $0
    Net income $599
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $599

    Fairport Savings Bank's gross interest income from loans was $12,932,000.
    Fairport Savings Bank's net interest income from loans was $8,953,000.
    Fairport Savings Bank's fee based income from loans was $142,000.
    Fairport Savings Bank's net income from loans was $599,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,979
    Provision for credit losses $300
    Total noninterest expense $10,327
    Salaries and employee benefits $6,186
    Premises and equipment expense $1,630
    Additional noninterest expense $2,511
    Applicable income taxes $32
    Net charge-offs $0
    Cash dividends $0

    Fairport Savings Bank's interest expense for loans was $3,979,000.
    Fairport Savings Bank's payroll and benefits expense were $6,186,000.
    Fairport Savings Bank's property, plant and equipment expenses $1,630,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $222,622
    Deposits held in domestic offices $222,622
    Deposits by Individuals, partnerships, and corporations $222,308
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $314
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $39,330
    Demand deposits $10,947
    Nontransaction accounts $183,292
    Money market deposit accounts (MMDAs) $31,880
    Other savings deposits (excluding MMDAs) $27,478
    Total time deposits $123,934
    Total time and savings deposits $211,675
    Noninterest-bearing deposits $10,947
    Interest-bearing deposits $211,675
    Retail deposits $205,590
    IRAs and Keogh plan accounts $6,477
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $326,569
    Cash & Balances due from depository institutions $4,720
    Interest-bearing balances $3,139
    Total securities $24,383
    Federal funds sold & reverse repurchase $0
    Net loans and leases $283,881
    Loan and leases loss allowance $1,561
    Trading account assets $0
    Bank premises and fixed assets $2,731
    Other real estate owned $0
    Goodwill and other intangibles $812
    All other assets $10,042

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $326,569
    Total Liabilities $296,908
    Total deposits $222,622
    Interest-bearing deposits $211,675
    Deposits held in domestic offices $222,622
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $71,826
    Subordinated debt $0
    All other liabilities $2,460

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $283,881
    Loan and leases loss allowance $1,561
    Total loans and leases (domestic) $285,442
    All real estate loans $278,095
    Real estate loans in domestic offices $278,095
    Construction and development loans $4,898
    Residential 1-4 family construction $3,640
    Other construction, all land development and other land $1,258
    Loans secured by nonfarm nonresidential properties $22,492
    Nonfarm nonresidential secured by owner-occupied properties $10,567
    Commercial real estate & other non-farm, non-residential $11,925
    Multifamily residential real estate $10,241
    1-4 family residential loans $240,464
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $7,290
    To non-U.S. addressees $0
    Loans to individuals $50
    Credit card loans $0
    Related Plans $24
    Consumer Auto Loans $0
    Other loans to individuals $26
    All other loans & leases $7
    Loans to foreign governments and official institutions $0
    Other loans $7
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $890
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Fairport Savings Bank had $283,881,000 of loans outstanding in 2018. $278,095,000 of loans were in real estate loans. $4,898,000 of loans were in development loans. $10,241,000 of loans were in multifamily mortgage loans. $240,464,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 31 $8,997 $290,226
    Nonfarm, nonresidential loans - <$100k 3 $597 $199,000
    Nonfarm, nonresidential loans - $100-250k 11 $1,776 $161,455
    Nonfarm, nonresidential loans - $250k-1MM 17 $6,624 $389,647
    Commercial & Industrial, US addressed loans - <$1MM 54 $5,365 $99,352
    Commercial & Industrial, US addressed loans - <$100k 43 $1,977 $45,977
    Commercial & Industrial, US addressed loans - $100-250k 6 $1,510 $251,667
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,878 $375,600